A potential airline partner for Rapid Rugby?
Andrew Forrest joins 20 bidders circling Virgin Australia
By Patrick Hatch and Sarah Danckert
April 30, 2020 — 2.32pm
Mining magnate Andrew "Twiggy" Forrest has emerged as a possible bidder for Virgin Australia, as administrators of the collapsed airline say 20 potential buyers are vying to keep the carrier alive.
Deloitte partner Vaughan Strawbridge told a first meeting of Virgin's creditors on Thursday that initial offers for the airline would be due in just over a fortnight. However, the firm will seek to delay a second meeting of creditors - where they can vote on any takeover deal - by up to three months.
Sources confirmed that billionaire miner Mr Forrest, who controls Australia's third-largest miner Fortescue Metals, has spoken to investment bankers about a potential tilt for Virgin. Other heavy hitters weighing up a bid are BGH Capital (backed by AustralianSuper), American airline investor Indigo Partners, Wesfarmers, American distressed debt specialists Oaktree, and Canadian asset manager Brookfield, which is exploring a joint bid with Macquarie.
Mr Forrest's interest was first reported by The Australian Financial Review.
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